Cinovec Drilling Programme Update

RNS Number : 7411V

Rare Earth Minerals PLC

20 April 2016

 

Rare Earth Minerals Plc

 ("Rare Earth Minerals", "REM" or "the Company")

Cinovec Drilling Programme Update

Rare Earth Minerals Plc (AIM: REM; OTC REMMY) is pleased to report the analytical results for the infill drill hole PSn02 at the Cinovec Lithium-Tin-Tungsten Project ("the project" or "Cinovec"). REM holds an indirect stake in the project through a 19.8% direct holding in the share capital of European Metals Holdings Limited ("EMH") (ASX code: EMH) that owns 100 per cent of the exploration rights to Cinovec. The full EMH news release is available at: http://www.asx.com.au/asxpdf/20160420/pdf/436mp624d97tqk.pdf

Highlights of the EMH Release

·   Drillhole PSn02 returned a mineralized intercept 188m averaging 0.46%Li₂O

·   The intercept includes a high-grade interval of 25m averaging 0.72% Li₂O, and another one of 20m averaging 0.86% Li₂O

·   In addition, the lithium intercept contains zones significantly enriched in Tin (Sn) and Tungsten (W), i.e. 12.4m@0.13%Sn, 9m@0.36%Sn, and 2m@0.12%W

·   Drillhole PSn02 is near a historical drillhole CN117, which reports 204.5m@0.49%Li₂O

·   Drillhole PSn13 is ongoing, after which drilling will focus on the shallower, higher grade lithium areas in the main section of the deposit

Kiran Morzaria, Chief Executive Officer of Rare Earth Minerals, commented:

"We are excited to see the progress at the Cinovec lithium project, the ongoing drilling programme, is showing excellent results, which bode well for the on-going development large scale lithium, tin and tungsten project. We look forward to the next phases of drilling, targeting the higher grade shallower areas of the deposit"

Qualified Person:

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance).

- Ends -

For further information, please contact: 

Rare Earth Minerals plc

Andrew Suckling                                                                                             [phone]

Kiran Morzaria                                                                                            [phone]

WH Ireland Limited (NOMAD & Broker)                                               [phone]

James Joyce

Mark Leonard

Square1 Consulting                                                                                [phone]

David Bick

Brain Alexander

 

END

 

 

DRLAKKDNABKKFQB